Nepal, the sole buyer of Indian Billets has observed decline in its billet imports from India by 6% during Jan-Jun (H1) of 2018 as against Jul-Dec (H2) of 2017. However in the same period, Finish long steel imports surge by 12%, while Flat steel imports moved up by around 46%.
As per custom data maintained by SteelMint stats, Nepal’s billet import during Jan-Jun’18 (H1) is about 526,384 MT; down by 6% as against 560,281 MT in Jul-Dec’17 (H2).
Similarly, Sponge iron imports fell by 22% and stood at 49,315 MT in Jan-Dec’18 as compared to 63,313 MT during Jul-Dec’17.
Likewise with Long steel (Rebar, Structure & Wire rod) imports, the nations imports climbed by 12% and stood at 181,429 in Jan-Jun’18 as against 162,227 MT during Jul-Dec’17.
Further the Flat Steel (HRC/CRC, Plate & Galvanised steel) imports rose by 46% to 359,568 MT in Jan-jun’18, which was about 246,189 MT during Jul-Dec’17.
After the earthquake in Nepal in April 2015, the demand for steel has drastically increased in the nation. However, the infrastructure and resources presently available in Nepal are inadequate to match the rising demand. Thus, the steel imports in Nepal increase significantly and mostly from India due to less voyage time and easy pay mode.
SteelMint learned that the current demand of steel in Nepal is around 1.5-1.6 million tonnes and it is expected to grow at an annual rate of 8-10% in coming years. Some industrial experts are also predicting that by the end of 2018 it will cross 2 million tonnes.
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